Latest news with #NCR-based
Hindustan Times
4 days ago
- Business
- Hindustan Times
'Like sabzi market': Indian techie blasts 'disrespectful' HR after botched salary negotiations
A frustrated Indian techie sparked a debate on social media over salary expectations after he accused a company's HR department of 'disrespectful' salary negotiations, comparing the experience to haggling in a sabzi market. The post, made in the r/developersIndia subreddit, struck a chord with many in the tech community who say they've experienced similar treatment. The techie, a data specialist with four years of experience, said that the hiring process ended in a lower salary offer than what was initially discussed. The techie said that the NCR-based firm required relocation and in-office presence, prompting him to quote ₹19 LPA during salary negotiations. discussions. However, after all interviews were complete, the company returned with a final offer of just ₹16 LPA. 'This doesn't make sense,' the user wrote, explaining that the new offer would barely result in a meaningful salary increase once taxes and living expenses were considered. 'I hate negotiating like in a sabzi market,' he added. The post quickly attracted comments from fellow tech professionals, many of whom shared the sentiment. "No matter what, always ask for more than you need because HR will always lowball. I have not encountered any HR who gave an offer based on expected compensation," suggested one of them. Another shared, "I have experience with these HRs. They don't have any professional expertise from which they can distinguish good candidates from bad ones. They usually end up choosing low-skilled candidates. Seriously, I hate applying for jobs." A third user suggested, "I have been in a similar situation before. During the first offer, you won't get much hike. So you basically need to stack up multiple offers to get a 100% hike. I followed the same approach a couple of days back." (Also read: Google techie in Bengaluru says moving to 2BHK is the best decision: 'Big chunk of salary goes into rent')
Time of India
6 days ago
- Business
- Time of India
Over 5,000 homebuyers may benefit as Noida allows co-developers in stalled projects
Live Events (You can now subscribe to our (You can now subscribe to our Economic Times WhatsApp channel The Noida Authority has approved the introduction of co-developers in five stalled projects, a move that will benefit more than 5,000 customers who have been waiting to get possession of their new homes.A senior official said approval for co-developers to join the stalled projects is on the condition that legal cases against the Authority are withdrawn and 25% of the outstanding dues are Authority has also approved a proposal by real estate developer Apex Group to revive 16 projects of debt-ridden builder Supertech.'These are cases where we had received applications from builders wanting to take over projects. But cases are also ongoing in court. We have clarified our stance in such situations: if the case against the Authority is withdrawn and 25% of dues are paid, we will approve the introduction of a co-developer,' said the Noida Authority the Supertech case, the new developer has agreed to clear Rs 678 crore in dues to five banks and around Rs 1,900 crore to the Noida, Greater Noida and Yamuna Expressway authorities.A co-developer can take over a legacy stalled project under the policy formulated by the Amitabh Kant Committee and sanctioned by the Uttar Pradesh Nimbus Projects Ltd , a listed NCR-based real estate firm, had received approval to revive a stalled housing project in Sector 168, first project under the policy is being executed by the Hawelia Group, which has taken over a 22-acre, partially delivered project—ShreeRadha Sky Garden—in Greater to the Confederation of Real Estate Developers' Associations of India (CREDAI), 190,000 units worth Rs 1 lakh crore are stuck in Noida, Greater Noida and Ghaziabad. In Greater Noida alone, at least 36 real estate projects are undergoing insolvency is estimated that Rs 40,000 crore is owed to the Noida, Greater Noida, and Yamuna Expressway authorities, including principal, interest and penal charges for allotted plots where real estate projects are at various stages of the co-development policy, the new developer can raise debt for financial closure of such projects based on its own net worth and credit rating. The earlier promoters, already in default, do not have the required credit standing to raise funds to complete these stalled projects.
&w=3840&q=100)
Business Standard
11-06-2025
- Business
- Business Standard
High temperatures take toll on realty, project timelines, impact workers
Realty & construction cos taking tactical measures: Heatwave training, on-site housing, new tech and more Sanket Koul Gulveen Aulakh New Delhi Listen to This Article As the India Meteorological Department (IMD) issued a heatwave alert with temperatures expected to soar past 44°C in several parts of the country, real estate developers are bracing for significant project delays caused by labour shortages and a sharp dip in productivity. 'Extreme heat conditions often result in shortage of construction labour, decreased productivity, and faster degradation of construction materials. Worker deficits in some regions can range from 20 per cent to 50 per cent,' said Santhosh Kumar, vice-chairman at Anarock group. Anoop Garg, director at Delhi NCR-based Uninav Developers, echoed Kumar's concerns. 'Prolonged exposure to extreme heat puts daily
Time of India
09-06-2025
- Business
- Time of India
Shares of Eternal, Swiggy drop as Rapido undercuts food delivery commission
Shares of Zomato parent Eternal and its rival Swiggy dropped as much as 2.5% and 4% on Monday following an ET report that Rapido is planning to launch its food delivery services this month by charging significantly lower commissions to restaurants than the two large players. Eternal shares closed 1.9% lower on the BSE at Rs 256.99 per share, after hitting an intraday low of Rs 255.35. Swiggy ended the day's trade 2.8% lower at Rs 364 a share, falling to Rs 360.10 apiece earlier in the day. The benchmark Sensex closed 0.31% higher at 82,445.21. According to the agreed-upon terms with the industry body National Restaurants Association of India (NRAI), Rapido will charge a flat commission of Rs 25 for all orders below Rs 400 and Rs 50 for orders worth more than Rs 400. This translates to 8–15% commission from restaurants, compared to 16–30% that Zomato and Swiggy charge, as ET reported. Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like The Top 25 Most Beautiful Women In The World Articles Vally Undo Rapido's food delivery launch comes at a time when restaurants have been increasingly flagging issues of 'steep charges' levied by Zomato and Swiggy. "Zomato is becoming unsustainable for small restaurant owners like us," Vandit Malik, founder of The Garlic Bread, wrote on LinkedIn three weeks back. "To even be visible on the platform, I'm forced to spend Rs 30+ per order on ads. What's left? Pennies. Sometimes, not even that," he alleged. The owners of another NCR-based small restaurant, Saffroma, wrote on X last week, which went viral, that it was quitting Zomato, alleging "zero payouts, mystery service charges and advertisements initiated without approval." The post has since been deleted. Live Events Food delivery outlook Discover the stories of your interest Blockchain 5 Stories Cyber-safety 7 Stories Fintech 9 Stories E-comm 9 Stories ML 8 Stories Edtech 6 Stories India's online food delivery market is expected to more than double to $15 billion by March 2029, according to a December 18 report by JM Financial . Platforms had penetrated only about 11% of the country's total food consumption in 2023, compared with 40% in China and 58% in the US, it said. In a note dated June 2, brokerage firm Morgan Stanley said that online food delivery penetration in India is still in the early stages at around 14% against the 19-21% range for markets such as the US and China, "implying a long runway for growth'. It kept its target price for Eternal's stock at Rs 320 per share, implying a potential upside of 24.5% from the stock's current price. Initiating coverage on Swiggy earlier this month, the brokerage firm pegged its target price for the stock at Rs 405 per share, marking a potential upside of 11.3%. Swiggy's food marketplace CEO Rohit Kapoor, in an interview with ET this month, said that there was a need for a greater level of dialogue between restaurants and aggregators over issues such as platform commissions, but pointed out that the architecture of economics has changed over time. Swiggy is an investor in Rapido.
Time of India
09-06-2025
- Business
- Time of India
Eternal, Swiggy drop as Rapido undercuts food delivery commission
Shares of Zomato parent Eternal and its duopolistic rival Swiggy dropped as much as 2.5% and 4% on Monday as Rapido undercut them in commissions levied from restaurants. The unlisted ride-hailing platform is looking to foray in the food delivery space. Eternal shares closed 1.86% lower on BSE at Rs 256.99 per share, after hitting an intraday low of Rs 255.35. Prosus-backed Swiggy ended the day's trade 2.79% lower at Rs 364 a share, falling to Rs 360.10 apiece earlier in the day. The benchmark Sensex closed 0.31% higher at 82,445.21. The drop in shares comes after Rapido began partnerships with restaurants for its online food delivery service at nearly 50% lower commissions than Swiggy and Zomato. According to the agreed-upon terms with the industry body National Restaurants Association of India (NRAI), Rapido will charge a flat commission of Rs 25 for all orders below Rs 400, and Rs 50 for orders worth more than Rs 400. This translates to 8–15% of commission from restaurants, compared to 16–30% that Zomato and Swiggy charge, as ET reported. Recent months have seen multiple small restaurant owners calling out what they alleged are "steep charges" levied by Zomato and Swiggy. "Zomato is becoming unsustainable for small restaurant owners like us," Vandit Malik, founder of The Garlic Bread, wrote on LinkedIn three weeks back. "To even be visible on the platform, I'm forced to spend Rs 30+ per order on ads. What's left? Pennies. Sometimes, not even that," he alleged. The owners of another NCR-based small restaurant, Saffroma, wrote on X last week, which went viral, that it was quitting Zomato, alleging "zero payouts, mystery service charges and advertisements initiated without approval." The post has since been deleted. Discover the stories of your interest Blockchain 5 Stories Cyber-safety 7 Stories Fintech 9 Stories E-comm 9 Stories ML 8 Stories Edtech 6 Stories Food delivery outlook India's online food delivery market is expected to more than double to $15 billion by March 2029, according to a December 18 report by JM Financial. Platforms had penetrated only about 11% of the country's total food consumption in 2023, compared with 40% in China and 58% in the US, it said. In a note dated June 2, Global financial services firm Morgan Stanley picked Deepinder Goyal-led Eternal as its top investment pick in the Indian food delivery sector, citing market leadership in both quick commerce and food delivery, healthy unit economics, stronger balance sheet than peers, and sound risk-reward. It kept its target price for Eternal 's stock at Rs 320 per share, implying a potential upside of 24.5% from the stock's current price. Initiating coverage on Swiggy earlier this month, the brokerage firm pegged its target price for the stock at Rs 405 per share, marking a potential upside of 11.3%.
